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The 25 Billion Dollar Secret: The NY Fed, Goldman & The AIG Cover-Up

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Anonymous Coward
User ID: 519048
11/6/2009 3:48 PM
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The 25 Billion Dollar Secret: The NY Fed, Goldman & The AIG Cover-Up

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The 25 Billion Dollar Secret: The NY Fed, Goldman & The AIG Cover-Up

Why did the Federal Reserve Bank of New York (FRBNY), whose Chairman was Stephen Friedman (a Goldman Sachs board member who resigned from the New York Fed earlier this year when it was revealed that he had made $5 million by purchasing shares in GS with the knowledge that AIG would be paying counterparties at par and that Goldman would be getting a $13 billion windfall -- when no one else had this information) and whose President was none other than current Treasury Secretary Tim Geithner, why did this New York Fed choose to pay AIG's counterparties 100 cents on the dollar when AIG itself had been negotiating for steep haircuts with claimants, AND why did they then pressure AIG executives to keep quiet about the decision even discouraging AIG from disclosing the 'par-payments' to its shareholders in required SEC filings?

We'll leave the decision itself (which was fraudulent, and borderline criminal, and the reasoning given - a complete joke), for another post and focus on the cover-up. For starters, it riled up Congressman Darrell Issa who fired off an angry letter last Friday to AIG management and the New York Fed, demanding the following from both:

All records and communications referring or relating to the FRBNY’s negotiations with AIG’s CDS counterparties, including but not limited to:

1. Emails, phone logs and meeting notes of the following people: Timothy Geithner, Stephen Friedman, Tom Baxter, and Sarah Dahlgren;

2. Term sheets, including drafts, relating to AIG’s payments to its CDS counterparties;

3. Emails, phone logs and meeting notes referring or relating to public disclosure of AIG’s payments to its CDS counterparties including disclosure to the SEC.

continues... BIG TIME CONTINUES -

[link to newsusa.myfeedportal.com]

Enlilson Subscriber

The Sons of Enlil live.
User ID: 808639
11/6/2009 3:52 PM

Re: The 25 Billion Dollar Secret: The NY Fed, Goldman & The AIG Cover-Up	Quote
There have been several raids across the country and some of those involve companies that were getting information from GS before anyone else as well. Hopefully something will stick on this company. ' " "' __O__ _/_\_____ " """"""""""""""""""""""""""" diggin the rail in setting up for another turn.

Anonymous Coward
User ID: 519048 (OP)
11/6/2009 4:00 PM

Re: The 25 Billion Dollar Secret: The NY Fed, Goldman & The AIG Cover-Up

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There have been several raids across the country and some of those involve companies that were getting information from GS before anyone else as well. Hopefully something will stick on this company.

Quoting: Enlilson

It really should. But with Timmothy Geithner, Larry Summers and a record number of other Wall Street execs in president Obama administration, I doubt it. Some small fish will fry, maybe one biggie will be sacrificed, but I guess that is it.

Can't pay all the minnows off, only the large mouths. Chumped up charges are nothing new and a great way to firstly discredit the person and secondly to put them out of (doing) harms way. A lot less messy than horizontal protocol.

Just ask Martin Armstrong about how rigged it all is; from the Fed to the big Wall Street players and money makers.

--

Wall St. Insider- beyond insider trading, more towards corrupt
From his jail cell, this market insider tells all. Corruption, manipulation, threats, bribes, murder and more. Furthermore, the document is authored from jail and thus in an interesting form... Martin Armstrong is know for his discovery on market predictiveness he called, "economic confidence model." It is sort of like another dimension to Elliott Wave Theory. It is best described here:
[link to newsusa.myfeedportal.com]

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